Ford and Geely have announced a manufacturing joint venture to produce electric vehicles at Ford’s Almussafes plant near Valencia, Spain. Under the agreement, Ford will own 66% of the venture and Geely will own 34%. As part of the deal, Ford will sell part of the plant to the Chinese automaker, paving the way for Geely to manufacture electric vehicles in Spain.
The companies announced on July 23 that Geely Auto will build two electric SUVs at the factory and that the two firms will jointly develop a new model. Pending regulatory approvals, operations for the joint venture are expected to begin in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028.
This move is part of a string of Chinese investments currently reshaping the auto industry in Spain. It also represents a growing trend of Western automakers opening their factory gates to Chinese competitors in an effort to fill capacity and secure the future of their production sites.